Bandeprev

Bandeprev

Bandeprev was established to administer complementary pension benefits for former employees of Banco do Estado de Pernambuco. The entity now operates under sponsorship from Banco Santander (Brasil) S.A. and is undergoing incorporation into SantanderPrevi. The fund deploys capital across commercial real estate in Recife, industrial and logistics properties throughout Brazil, parking assets, and participant loans valued at $17 million. Public market holdings include an Ibovespa-basket equity portfolio estimated at $44 million and $350 million in NTN-B and LFT government bonds. Private holdings encompass a fully owned multimercado fund and limited-partner exposure to a diversified FIP. Geographic reach centers on Brazil with primary concentration in Pernambuco. Service providers include PricewaterhouseCoopers as independent auditor since 2018 and Vinci Partners, Brasil Plural, and Banco Fator as asset managers since 2016. In July 2024 Bandeprev sponsored the EPINNE-EPB event in Recife focused on EFPC investment strategies. The fund maintains relationships with ASFABE and UniBandeprev for participant representation during the incorporation process. Bandeprev functions as a closed pension vehicle whose assets and beneficiaries are being absorbed by SantanderPrevi, creating a defined wind-down path rather than an ongoing open mandate.